NEO Coin Technical Analysis and Price Update ?? PATTERN COMPLETE ❓❓

how you doing guys it's me airman again so knio knio let's let's cover neo guys but first of all guys I know Bitcoin has has gone past the all-time high today this is the Bitcoin chart here by the way but I'm not gonna cover Bitcoin because I already did a video about Bitcoin yesterday if you check yesterday's video and I already basically said that I'm expecting it to you know probably break the all-time high which it did if not you know have a little retracement before it comes up and breaks it and so it's broken again it's broken the all-time high now I'm expecting it to shoot up maybe have a have a retracement back after it gets worse old which is pretty much getting oversold right now so it's probably going to test this level back back again at some point and then shoot back up you know it's gonna it's going to shoot back up pretty high so anyway that's that's Bitcoin let's let's head over to neo guys this video is all about neo so alright so I've been getting a lot of requests to do an update video on neo so I'm gonna do this now start to finish and tell you guys what I'm seeing from a technical level and the reasons why I think this is happening guys I just have to stay from from the beginning this is my analysis whether you agree with it or not that's you know that's your prerogative everyone's analysis is different and people trade in different ways right but this is I'm just gonna share with you what I'm seeing from the charts on a technical level so okay so first of all this throughout the the baseline here for neo and see that the long-term trend that we've been kind of holding and that we expect to hold or hope to hold it's not guarantee but we're expecting to hold this seem as though it's been kind of been on this this trend for a while it can break just because we've been on this for a while now it can break it doesn't mean it has to hold this okay and I okay so I'm gonna draw this this stone here this all-time book this hi here it was it was wartime right before and I'm just gonna draw this out here okay to give give us like an equilibrium point here where the we can say where the the price is me okay we got we got crossroads here okay so let's keep that there okay so that's that's a point of interest where where we're at right now okay where where this price has come to right now okay so let's see now in the in the short term obviously from the all-time highs here we can see we've we came down this this nice trend here and then we broke broke the trend okay and then after we broke the trend we had a little sell-off here where we double bond okay we did a a we did one two three bottom formation here okay so that was our little double double bottom formation here you know I suppose it would have been easy just kind of drawing that triangle there okay so that's fine so since then alright I'm just going through this you know from top to bottom here as quick as I can and I my videos can be quite long sometimes I'm gonna try and get this video done within 20 minutes guys so since then guys we after we double bottom tier we we had a little spike up here and we've created a bull flag here and we we start moving up here okay and we've almost had a full retracement from this point here but not quite now here's the thing guys I'm gonna I'm gonna point out to you guys a couple of things for you guys have been holding near accumulating news from the bottom here even from even from round about here like me I'm still holding right I'm still holding because neo the thing about neo guys most people are holding near as a long-term hold most people they most people that are holding neo is because they believe in the project and where they're going even after all the China fought and stuff like that people you know generally believe in in the neo project and that you know it has some sort of intrinsic value unlike most of the you know other scammy coins right so you know most of the people are holding this long term whereas you know that the trade is out there a lot of traders are trading this day to day which is fine as well you know I suppose I could have you know sold off here and reboot back here you know but yeah this is a long-term hold for for most people okay so okay since then what I want to highlight to you guys is basically what we've in terms of the patterns being created here I was looking at this thinking okay we're creating an Elliott Wave here but as as time progressed the way the pattern played itself out and this could be due to a number of factors in the market right you know the way Bitcoin has been playing out the the the news fundamental news and stuff like that does affect things okay there's recent news now about Russia you know tightening up regulations on cryptocurrencies Bitcoin pumping is having a massive effect on all the quant if you look at the coin so that they're all red can you see all these cause these are all really good coins really all these coins here they're good coins most of them well I think all of them are really really good coins right so look at them all guys they're all in the red they're all in red this is green they said well this is Bitcoin that's why it's green but the rest of them are red right if you look at coin market cap I mean less let's look at the gainers and losers over the over the last hour or so right and let's look over in terms of the trade volume okay look I mean let's let's go back into the against Bitcoin guys look against Bitcoin they're all everything's losing all the biggest coins are losing let big connect is usually big connects up like 10% because you know it goes against everything else is it's basically an MLM company right but look at all the coins that they're really really kind of suffering against Bitcoin and it's natural guys because you know when Bitcoin goes crazy like that and it's gonna be going crazy more then you know it's natural for the coins to behave like that but once Bitcoin settles down then the money's gonna come into the awkward's and then they should start rising again okay so that's fine so in terms of the patterns guys I thought this was playing out into a into a nice kind of Elliott Wave formation right but it didn't play out this did it it did not play out the way I wanted it to you right so then it got me thinking okay so this isn't this is has not created an Elliott way for whatever reason but then when you look at it basically what what I know is it was starting to create a cipher pattern so if we take if we take the same start here and then make this our point a and then come down here to the retrace to the bottom of the retrace it as point B and then go to the top of the wick here as point C and then we came down here and we held the cloud but this sign here let me just make it clearer for you guys this zone here if you look at the if you look at the 4-hour chart look we've basically we've got one top here one top here and one top here yeah that's basically one two three it's a triple top here okay so this this did not work out to be an idiot wave this was basically her a really solid top turned out to be this this top here was our basically our triple top anyway leaving that to one side the point of me saying that to you is just to kind of confirm that we didn't you know we weren't playing the Elliott Wave there and we were looking for something else right so what else were we looking for so what I noticed here was in terms of the patterns we were creating a nice kind of X a B C here right and we didn't pass this top here which meant we were coming down right so I was basically looking for a 7 8 6 retracement of this whole move in order to complete the the where's the low let's say this is the low right in order to complete the cypher pattern right so this is basically a cypher pattern now if we measure the move of the cypher pattern right we have this as the first leg up here and if we if we check the retracement of the of this first leg down here then we can see it hasn't surpassed a sixty one point eight of the of the site Japan which means you know where we're well within the bounds we've we're obeying the rules of the cyber ban okay all right cool so then I've got to look for this top up here this week because we're counting the wicks here on the cypher right so we want this okay we gotta count now the length how far this wick goes past this point a so we go from X to a and then back to eggs for the extension tool and we we've got to say okay so this cannot pass in close above the 141 so this is obviously you know well within the limits of that right so this is another thing that's basically is saying to me okay so we haven't closed above the four 1

41 which means we're cool you know where this is another thing saying to me okay we're still within the rules of the cipher so at this point we can basically say okay so for this pattern to complete we need this to retrace down to we're looking at the the seventy eight point six the seven eight six mark right of the whole move so from X to C not from 8 not from X to a from X to C so if we if we take this whole move here right if we take this whole move and we say ok cool so let's go from X to C right and we can basically see here that all right this whole move now we've come all the way back down you can pretty much see to this seven 786 zone I mean we can see here this is the 786 zone we're just touching this zone here all right we might come down we might still come down but that's fine if we come down and close on it or below it that's that's still fine the point I'm trying to make for you guys is when these patterns start forming they they tend to complete the market will gravitate towards completing that pattern which basically is is something that has just happened now like it's already happened and you know it's gonna for the next day or so we're we're still gonna be like completing this button but that that in itself now I mean we do that this this cipher pattern now is pretty much complete ok so what's the story now now there's a there's a couple of things here for for you guys that are holding you or there's there's a couple of things I want to mention and you know one thing I'll say is now's a good time as any to start accumulating you're right it's not I've got it say right now it's not it's not showing bullish sign it's not showing giant signs that it's about to turn around row or something like that but it's just completely decipher pattern right and bitcoin is is is pumping so maybe you know if you're holding big Bitcoin you can hold on Bitcoin to Bitcoin when it kind of tops out a little and then you know then when it starts to consolidate a bit there there you know that the all coins are gonna have the chance to start to you know regenerate and and start to start to show signs of strength and most likely at that point the alt coins are going to be right at the bottom like we can see here with neo right we can see here with neo as long as bitcoin is let's go back to Bitcoin for a second as long as Bitcoin is doing this like it's just going nuts basically right then you know all of the old coins look at DGP I guarantee you is dumping right it's not just neo look I'll show you let's look at ETH against look look at etherium it's dumping right look here NXT most probably dumping so you know let's have a look at IMG OMG was pumping yesterday right now it's dumping okay because obviously when Bitcoin is pumping like that then obviously all the coins that traded against Bitcoin that it is gonna have an inverse effect – to some extent that's not to say that these coins aren't gonna start to move up later right so that's that's one thing I want you guys to realize okay now one thing another thing I want to say is obviously from this whole move here right from the Bob here we've we've come down set seventy eight point six okay I know for you guys you know loves people have been buying here whatever it's disheartening it's disheartening to see your coin drop like that but you know it's it's just part of the whole market cycle guys okay so once this this whole patent resolves itself then we can start to kind of look for such signs of strength and look for money to come back into Bitcoin okay so one other thing I want to show you guys is let's just look at the dual charts here for a second this by the way this is the destroy the bomb here is a neo versus the Dola okay alright let me just make this clearer for you guys okay so this one on the bottom is neo versus the dollar okay and this one on the top as we've just seen is neo versus the pound okay so all right so let's have a look okay so basically we can see Neil that is is come down all the way to the seventy eight point six mark okay but when we were I mean if we if we look back to the left and look at the point that the last point that it was at this price fifty you know five hundred and sixty two thousand satoshis if we look to the left at the beginning of the move when we start pumping we are at this point here okay so we were basically let's put this line here my day go right we're at this point here okay right here okay so it's quite quite far down okay okay so if we if we look in terms of the retracements we know that that is seventy eight point six because we've obviously we've we've just measured that right we can see it's the seventy eight point six range okay there okay guys just follow me just for a second okay I promise this will make sense to you in a bit okay but if we look at that same that same thing against the the dollar right we're where we are now okay or just below where we are now where this cat week finished and we wait we lay that same line there okay and we take that same move you can see the cross a you can see this line here this cross line you can see we started this move from here on on Bitcoin so we will start from here on on the on the usdollar cha ok and we measure that same move from the top right from the top to the from the bottom to the top take the fill and you can see that line guys it's that line is way above the the 50% range way above the 50% range okay so there's a reason why I'm saying this to you right on the on the Bitcoin chart where we're down here we're down on this seventy eight point six against Bitcoin okay we're down here so the point I'm trying to make is okay even though against Bitcoin we've retraced all the way back down we've we've basically complete that cypher pattern on the way down right you know against the dollar against the dollar where we're still above the 50% retracement zone from from the bottom of that move right and if you take it as percentages guys that's still that's still in terms of the actual dollar the 313% net gain right even though we've had that full retracement of of the move right so that's just something I want to point out for you guys because that's that that extra money coming in to crypto is it's basically yes you know against Bitcoin because bitcoins pumping with we've we've we've done we've you know retraced a lot steeper and further but if you draw the comparison against the dollar we're not doing too bad guys we're still you know in and around the thirty dollar mark right and this is at like the lowest point right you know so that's that's pretty cool if you ask me because what's gonna happen guys what's gonna happen like you know eventually when when Bitcoin settles down a bit right then what we're expecting to happen here is for for neo to slowly you know settle down and start trading sideways for a bit okay depending on what the market market is like and how how long that would take but we need to first start looking at the the shorter timeframes and you know we need to really you know start you know looking at you know first of all the the the the our the the our chart and start looking for science for this to double bottom on the hourly chart and then trade sideways a bit and then we need to start getting above this ten-day EMA line and then we we need to start getting above this six hour cloud so not six out like this one hour cloud and then just set settle there for a bit and then that's the beginning of a momentum shift again right but I want to highlight that this pattern his has fulfilled itself now this cycle patent is has fulfilled itself right now here's the thing guys once we start performing against Bitcoin right then bearing bearing in mind Bitcoin bitcoin is going up now I mean we're probably gonna be around you know we went all the way up to like five thousand two hundred and seventy five dollars already now we're probably we're heading you know to above six thousand dollars like very very very soon right now bear bearing in mind you know Bitcoin is going up in value once we start this is actually a very good thing because you know although this looks you know on the Bitcoin chart here let's make this fullscreen on the Bitcoin chart here if we bring this to the four-hour chart guys sorry although this is looking very dire at the moment well once they start settling down and it starts outperforming Bitcoin which I do expect it to do right I expect this to start outperforming Bitcoin soon right then bearing in mind bitcoins price has has inflated it's gone up in value then you know once this starts going up guys against the against the dollar we can hear we can hit all-time highs very soon against the dollar because really and truly guys even from where we are now we're only like well not ninety ninety two percent away from the all-time high yeah from the top where we got to like a week or two ago about a week ago we were only like 45 percent away from all-time high any crypto that's that's nothing and bearing in mind at the moment them the market is expanding not contracting right so then that's gonna basically cause the whole market to expand right at the moment it's a little bit difficult like I said because bitcoin is behaving the way it is we can see here you see the market dominance of Bitcoin is fifty three point four percent that's the highest it's been for a long time guys and if you see this chart here this chart of let's have a look it's quickly that hasn't worked this chart that's basically it shows you the the dominance of of Bitcoin okay so we can see here you know at the bigoted from the beginning of the year Bitcoin has been coming down against the other awkward's the all coins have been gaining market share against Bitcoin but since since about July Bitcoin has been climbing again and gaining market dominance against the O'Quinn's and you can see here if we zoom in a bit more we can see here more recently Bitcoin is really starting to ramp up now and most of the majority of the all coins are starting to lose you know market cap or market dominance against Bitcoin so you know that's a trend that we've we've we've started to see now recently so you know it's it's kind of like that when Bitcoin pumps you can expect the your coins to dump right and when when Bitcoin settles then you can expect the the old coins to to regain some sort of value okay so so anyway so the point is guys is once once neo starts outperforming Bitcoin then we can really start seeing this dollar value you know the first the first area we need to break is is really is really this stone this this zone right here okay I don't know why I've just drawn an arrow it's the wrong thing but anyhow that zone there right and then this top here and obviously then these highs here right but against the dollar I think if we if we start performing well against Bitcoin then that shouldn't be an issue guys that should not be an issue now here's the thing I want to quickly show you guys going back to the Bitcoin chart and this video has become 25 minutes already alright so let me show you another example of a psycho power on a on a bigger scale okay so let's take this Bitcoin chart okay now what I'm looking at here with Bitcoin is I can basically see something similar here from from this bottom here if I take I take this top here come back down here take this top here and then we had that big retrace all the way down to here alright so that to me sticks out as as a potential cipher now if we measure this out then then we can see this zone meets the requirements okay we can see from c2 from x2 from X to see the retrace is guess what we're on the seventy eight point six own like like in the neo chart well we fit the seventy eight point six okay and just lastly if we take the the extension tool from from there to there to X then you know we're well below the one point what a 4-1 zone so this one meets with the requirements of of the cipher so here's the thing once we completed this cipher pan on the on Bitcoin obviously the white Bitcoin behaves is different to all the other coins but in general look we complete this cipher and then you know this is where you know everyone was panicking just just like we've neo you know the situation we're in now it looks very very dire but what we're hoping for here is just a nice bounce yeah and then just the market to kind of consolidate sideways a bit before it starts to recover upwards okay so in the same way we we've just done that we've with Bitcoin where we're hoping to do that similar sort of thing where this is just like I said guys this is just my my look on things okay so obviously you know this isn't Bitcoin but you know what what I would expect to see now from form from ripple is literally just let's have a look just basically you know bounce and then saw some sideways movement like that and then some like a little pump up before we start to make this isn't very artistic guys then I want to I want to start to see like a impulsive leg up like that and then start a new new cycle or something okay but it's gonna take a little while but we need we need the we need the market to play cell phone we can't we can't expect like a whole new market cycle just to kind of regenerate that that quickly you know I can expect it to happen but it's not gonna be an immediate thing all right but just remember guys just because we're down here with neo you know most of your long-term holders anyway right but the thing is just because we're down here with neo that doesn't mean I mean if we're taking this as the as the bottom right now then basically what we're saying right now is against the dollar where we're pretty much at the bottom thirty dollar range which which is positive I mean in my eyes this is this is positive but like I said guys that's that's basically all I've got for you now with me oh let me know if this makes sense if you didn't make sense there I don't know how try to explain it another time and let me know your thoughts give me a thumbs up subscribe to my channel if you haven't already and I'll see you on the next one adios

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